Retirement Planning Calculator
Last reviewed on October 1, 2026.
Plan your path to retirement with confidence. This comprehensive calculator helps you determine how much you need to save, when you can retire, and what your retirement income will look like. Includes Social Security, inflation, and tax considerations. Everything is calculated in your browser; nothing you enter is sent to us.
Current Situation
Current Retirement Savings
Retirement Goals
Social Security Benefits
Asset Allocation
Age-based rule of thumb: 110 - age = stock %
Your mix sets the assumed volatility in the simulation. The average return comes from the Basic tab.Taxes in Retirement
Applied to every withdrawal, as if all savings were in pre-tax 401(k)/IRA accounts. Roth withdrawals are generally tax-free, so this errs on the cautious side.
Healthcare Planning
Risk Analysis
Each simulation runs year by year from today through your life expectancy, so the order of good and bad market years (sequence-of-returns risk) is built in.
Financial Independence, Retire Early (FIRE) Calculator
FIRE Goals
Current Finances
FIRE Strategy
Retirement Planning Guide
The Power of Starting Early
Starting to save for retirement in your 20s versus your 30s can mean hundreds of thousands of dollars of difference due to compound growth. At a 7% average annual return, a 25-year-old saving $500/month would have about $1.24 million by 65, while someone starting at 35 would have about $585,000: less than half, despite contributing only 25% less.
Understanding the 4% Rule
The 4% withdrawal rule suggests you can safely withdraw 4% of your retirement portfolio in the first year, then adjust for inflation annually, with a high probability of not running out of money over 30 years. For a $1 million portfolio, that's $40,000 in year one.
Social Security Strategy
Delaying Social Security from 62 to 70 increases benefits by 77%. For someone with a $2,000/month benefit at full retirement age (67), waiting until 70 would increase it to $2,480/month for life.
Healthcare in Retirement
Healthcare is one of the biggest retirement costs. Fidelity's 2025 estimate put lifetime healthcare spending for a 65-year-old retiring that year at about $172,500 per person (roughly $345,000 for a couple), not including long-term care.
Retirement Account Types
| Account Type | 2026 Contribution Limit | Tax Treatment | Best For |
|---|---|---|---|
| 401(k)/403(b) | $24,500 ($32,500 if 50+; $35,750 if 60-63) | Traditional: Tax-deferred Roth: Tax-free growth |
Employer matching, high earners |
| Traditional IRA | $7,500 ($8,600 if 50+) | Tax-deductible contributions | No workplace plan available |
| Roth IRA | $7,500 ($8,600 if 50+) | Tax-free withdrawals | Young savers, expect higher future taxes |
| HSA | $4,400 single / $8,750 family (+$1,000 if 55+) | Triple tax advantage | High-deductible health plan users |
IRS limits for 2026. Roth IRA contributions phase out at higher incomes. Limits change most years, so confirm at irs.gov.
Common Retirement Planning Mistakes
- Underestimating longevity: Plan for 90-95, not average life expectancy
- Ignoring inflation: $100k today = $180k in 20 years at 3% inflation
- Not diversifying: Don't put all eggs in one basket (company stock)
- Withdrawing too early: 401(k) and IRA withdrawals before 59½ generally incur a 10% penalty on top of income tax (some exceptions apply)
- Forgetting healthcare: Gap between retirement and Medicare at 65
- No estate plan: Ensure beneficiaries are updated
Frequently Asked Questions
How does this retirement calculator work?
The Basic tab grows your current savings and monthly contributions at your expected return, then compares the result with a target of 25 times the yearly income your savings must provide (your income goal minus Social Security, raised for inflation). It also estimates how long the money would last if you withdraw that income each year. The Advanced tab runs thousands of simulations with random market returns to estimate the odds your money lasts through your life expectancy. The FIRE tab estimates when you could reach financial independence.
Why are the results shown in future dollars and today's dollars?
Prices rise over time, so $1 million in 35 years will buy much less than $1 million today. At 3% inflation, prices roughly double about every 23 years. The calculator shows big balances in future dollars (what your statement will say) and converts income to today's dollars so you can compare it with your current lifestyle.
How much do I need to retire?
A common rule of thumb is 25 times your annual expenses (the 4% rule inverse). If you need $60,000/year in retirement, aim for $1.5 million. However, this varies based on lifestyle, location, health, and other income sources like Social Security.
Should I prioritize 401(k) or paying off debt?
Always contribute enough to get full employer matching (free money!). Then, pay off high-interest debt (credit cards). For low-interest debt (mortgage), consider doing both simultaneously since investment returns may exceed debt interest rates.
Roth or Traditional retirement accounts?
Choose Roth if you expect to be in a higher tax bracket in retirement or are young with decades of tax-free growth ahead. Choose Traditional if you're in a high tax bracket now and expect lower taxes in retirement. Many people benefit from having both.
What if I'm starting late?
It's never too late! Maximize catch-up contributions (an extra $8,000 in a 401(k) at 50+ in 2026), consider working a few extra years, reduce expenses, downsize housing, or plan for part-time work in early retirement. Even small changes make a big difference.